To Busy Today

Trading and massive post on the blog kept me away.

Well, I said about the SDS trade, "Why? Just in case the ABC is completed and there is more correction here than expected. I hate to be late to a party." That turned out to be the call of the week.

I hated the trade and thought we still had C up to come. The strength and the room to run up in the dailys got me. This morning I warned that my gut did not like the market. I knew that C would be it. Should have held the SDS thru the loss. It was a very well timed trade.

I have unfortunately not participated in the fall cause I was not chasing the gap and there was still a chance the B leg was playing out. In a rare event, the gap did not fade but kept running. So, I am not in. I don't chase things.

I hate losing trades and my not willing to let the SDS trade slide even slightly negative got me. You have to take some pain to get the gain, and in this case, sadly, my pain is for not willing to hold the play. I believe the posting here influenced my moves somewhat. If I had kept my standard 3 to 5% loss limit in place, we would not be having this discussion.

Live and learn. Looking for an entry to get 5 of 3. Bastards!

Current Situation

Waiting on a clear direction. Is this the beginning of 3 of 1 or somewhere in a 2 corrective? I may be on the sideline till one or the other is clear. I am planning on going full short into 3 down and will ride it for all it is worth.

Out Of SDS

Once the TL cracked I hauled butt. 1:07 - 35.71. Lower time frames were turning bullish or toppy and I was uncomfortable with the trade. Backtest near 35.75 is possible. Stupid trade not worth the headache or the time.

Looking for long entry and to confirm I was right and not wrong. LOL.

SDS

Very cautiously watching it. Could be out and back in a long sooner than later, so play it tight.

OIL And USO

I blogged on it this am and saw it coming earlier, just did not bite. Oooops. Will add when I think the time is right. Look for them soon.

OK Let's add some SDS

I lied below - gonna short it. Feeling frisky. This is usually when I get burned.

1/2 position at  35.46. 36.23 first target. Looking to add more when move is confirmed above TL and indicators cross. I may be early. Stop at 35, but if it gets worse faster I may punt before then.

Why? Just in case the ABC is completed and there is more correction here than expected. I hate to be late to a party.

SSO Update

UPDATE: 37.51 hit. I'm out. 37.46. 3.5% even better.

That might be it - Selling half here at 37.15. Will babysit the rest with a 37 stop for max pain.

2.6% - I'll take it.

I'm not going to short into the b wave south. I will play C up and then short like hell when 3 gets here.

Long SSO

1:20 - 36.20 - 1/2 position. Thought about going full boat, but will wait to add. Initial target 37.40. Stop at 35.80 (just inside the gap).